Regulators in Singapore and Switzerland have signed a
cooperation agreement aimed
at helping Fin Tech firms in the
respective regions.

It will introduce a framework for Fin Tech companies in
Singapore and Switzerland to
build solutions and understand
regulatory requirements.

The Monetary Authority ofSingapore (MAS) and SwissFinancial Market SupervisoryAuthority (FINMA) said the coop-eration will enhance innovation inthe financial services and improvecompetition in both countries.

The agreement was signed
at the second financial dialogue
– aimed at “deepening bilateral
cooperation” – between the MAS
and the State Secretariat for
International Finance (SIF).

Both regulators will work on
creating new business opportunities for Fin Tech companies looking to expand into each other’s
markets.

Information on developing
policies and emerging market
trends will also be shared between
the MAS and FINMA. n

Bats Global Markets has lammed Nasdaq’s recent proposals to launch a third party connected data feed, and has urged
US regulators to disprove it.

In a letter to the Securities and
Exchange Commission (SEC) in
the US, Bats said the proposed
feed is technically unnecessary,
anti-competitive and unfounded.

Nasdaq is seeking approvalfrom the SEC to separate physicalconnectivity for its UTP securitiesinformation processors (SIPs) datafeeds, to a new third party service.

The segregation means users
would be charged a monthly fee of
$5,000 for a 10GB connection or
$2,000 for a 1GB connection.

Bats said Nasdaq’s proposed feefor use of the data feeds is “simplyan attempt to increase Nasdaqrevenue.”Nasdaq could not be reachedfor comment at the time of publi-cation. n

Singapore and Switzerlandsign FinTech pact

Regulators in Singapore and Switzerland have agreed to
draw up a framework, share information and create
opportunities in Fin Tech.

Its new AgileCOLLATERAL,
which will also target buy-side brokers, corporate and
investment firms, is being
launched to help buy-side
client’s stricter collateral
requirements for uncleared
OTC derivatives, expected to
be phased in from March
2017.

“They [buy-side] have to
meet new regulatory
requirements expected to be
phased in around March 2017,
which will see margin
requirements and liquidity
ratios increase,” said Alastair
Brown, CEO of Lombard Risk.

“This means they must look
at new ways to meet these
challenges while keeping
control of headcount,
minimising fixed cost
increases and reducing the
impact on fund performance.”